How To Map A New QuickBooks Account in STRATAFOLIO

Last modified: June 26, 2024
Estimated reading time: 3 min

Feature Overview

When you add or edit an existing account in your QuickBooks account, STRATAFOLIO will see the updates after the next time it syncs. Therefore, it’s a good practice to check that the sync has been completed successfully to avoid any discrepancies or errors in your account information. After the initial setup, STRATAFOLIO will automatically map the account according to its account type in STRATAFOLIO or your QuickBooks. You should verify that the account is properly within STRATAFOLIO’s consolidated Chart Of Accounts (COA) to ensure it displays correctly on the Dashboard.

Chart of Accounts (COA) in the QuickBooks Integration 

On the main Organization page, select the Integration tab. This tab will display a list of the QuickBooks accounts that have been connected. Click on the “i” next to the Integration, which corresponds with the Quick Book file with the new accounts. 

Click on the Accounts tab to see the COA as displayed in QuickBooks. The system will display all accounts, including those that have been deleted. The account in QuickBooks COA is displayed under Account Name. The STRATAFOLIO Account Name column is where the account is currently mapped to in STRATAFOLIO’s consolidated COA. Sometimes, STRATAFOLIO may need to modify the account placement based on account types in QuickBooks.

Verifying the Accounts – Confirming Feature

STRATAFOLIO uses the Confirm feature to differentiate between verified accounts and those that have not. Please click the checkbox next to the line(s) if you know the QuickBooks account is already a correct match with the STRATAFOLIO Account Name. After checking all the correct pathways, Press Confirm Mapping and Save Changes.

After pressing the Save Changes button, the selected account(s) will display the green “confirmed” message. Additionally, the account(s) will still show the checkbox marked; therefore, it is important to deselect those account(s) before confirming the next batch.

The Hide Confirmed Accounts feature enables the system to display only unconfirmed or unverified accounts. If you make significant additions or modifications to an account in QuickBooks, the system may unconfirm it, and you will not see the green Confirmed message displayed next to it. To show only unconfirmed accounts, click on the Hide Confirmed Accounts button.

Updating the Mapping for an Account

Click the checkbox next to the Account Name that needs new mapping or a mapping change. Then click on the Map Accounts Button.

Once you click the Map Accounts button, a pop-out window will appear to help you with the process of selecting the correct account. The accounts on the Dashboard have the same names and appear in the same order as in this list. Click on the drop-down menu and select the proper account to use.

After selecting the STRATAFOLIO account, select the Save & Confirm button.

After you have selected the Save & Confirm option, the system will display a green “confirmed” message next to the new account. This message indicates that the account has been successfully saved and confirmed. This means that STRATAFOLIO has mapped the account, and it is now ready for use. STRATAFOLIO will refresh the account listing.

**NOTE: It is important to deselect the account(s) that were just mapped. If you don’t deselect the accounts properly, STRATAFOLIO might end up mapping them again, leading to incorrect remapping of the accounts.

Helpful hint: To help organize and select the accounts that require mapping, use the search function and the filter on each column.

Sub-accounts Mapping 

STRATAFOLIO typically utilizes the Classes feature to differentiate between multiple assets in a QuickBooks account. In addition to using classes, users also have the option to use sub-accounts as an alternative way to keep their assets separate. With sub-accounts, there is an additional step after mapping to connect the specific Asset, Building, or Unit in STRATAFOLIO to the correct sub-accounts. Below are the directions for the use of sub-accounts in QuickBooks and how to map them correctly in STRATAFOLIO. 

Click on the checkbox to choose the accounts that should be mapped to a specific Asset, building, or Unit. Click Map to STRATAFOLIO Hierarchy

Based on the desired level of mapping, choose the Entity, Asset, Building, or Unit in STRATAFOLIO to which you need to map the sub-account. Click Save Changes. 

STRATAFOLIO will map all transactions posted to this sub-account only to that specific Entity, Asset, Building, or Unit.

Furthermore, if you are currently implementing Classes in your QuickBooks, it would be extremely beneficial to review the article on Mapping Classes in STRATAFOLIO. This resource can provide valuable guidance on how to correctly map your Classes. As Loans are a little different, there is a Knowledge Base article on Mapping New Loans in STRATAFOLIO as well.

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